Indian Bank has raised interest rates on two special fixed deposit schemes, offering 6.80% a year on its 555-day deposit and 6.75% on its 777-day deposit from October 23, 2026.
The rate on the 555-day Ind Grow deposit has increased from 6.65% to 6.80%, while the rate on the 777-day Ind Prosper deposit has risen from 6.60% to 6.75%. Both increases amount to 15 basis points, or 0.15 percentage points.
Customers should check the bank’s terms and conditions before booking a deposit, including rules on premature withdrawals and interest payouts.
How Indian Bank’s FD rates compare with other banks
According to Paisabazaar data dated October 21, Indian Bank’s maximum listed fixed deposit rate was 6.65% a year before the latest revision.
Among 10 major public and private sector banks in the same comparison, Bank of India offered a maximum rate of 6.85% on a 999-day deposit. Bank of Baroda offered up to 6.75%, while Kotak Mahindra Bank offered up to 6.65%. Punjab National Bank and Canara Bank offered maximum rates of 6.60% each.
Indian Bank’s revised 555-day rate of 6.80% puts it close to Bank of India’s highest rate in the comparison. However, these are rates for specific deposit tenures and are not available across all fixed deposit periods.
SBI, HDFC Bank and ICICI Bank FD rates in October 2026
For one-year deposits, State Bank of India, HDFC Bank and ICICI Bank offered interest rates of 6.25% a year, according to Paisabazaar’s October 21 comparison.
For three-year deposits, SBI offered 6.30%, while HDFC Bank and ICICI Bank offered 6.45% each. On five-year deposits, SBI offered 6.05%, HDFC Bank 6.40% and ICICI Bank 6.50%.
Rates vary by bank and tenure, so depositors should compare the rate available for their intended investment period rather than relying solely on a bank’s highest advertised rate.
What should customers check before investing in an FD?
Before opening a fixed deposit, customers should check whether the advertised rate applies to a special-tenure scheme or a regular deposit. They should also review premature withdrawal penalties, interest payout options and applicable tax rules.
Customers should confirm the latest rates and terms on the bank’s official website before booking a deposit.
Read more: Senior citizen FD rates in October 2026: Which bank offers the highest interest?